Gov’t Incentives for first time home buyer?

[Sooyeon Kwon]

Hello, a friend of mine just mentioned something about the government trying to give 25K for a first time home buyer. Is that true? Or are they trying to get that past? If so how soon do you think it will be implement it? I just got preapproved for my first potential home at the rate of 2.75%. I am trying to redeem my IRA funds to put my down payment. Some say that I won't get penalized for using IRA (simple and roth) funds for downpayment if it's a first time buying a residential home. Others say that I will still get penalized. What is the verdict?